LAS VEGAS, Sept. 02, 2021 (GLOBE NEWSWIRE) — Marathon Digital Holdings, Inc. (NASDAQ:MARA) (“Marathon” or “Firm”), one of many largest enterprise Bitcoin self-mining corporations in North America, at the moment revealed unaudited bitcoin (“BTC”) manufacturing and miner set up updates for August 2021.
Historic and Potential Hash Charge Progress Based mostly on Present Cargo Schedules of Beforehand Bought Miners (Topic to Change)
Company Highlights as of September 1, 2021
- Produced 469.6 new minted bitcoins throughout August 2021, growing complete bitcoin holdings to roughly 6,695 with a good market worth of roughly $316.4 million
- Money readily available was roughly $70.9 million and complete liquidity, outlined as money and bitcoin holdings, was roughly $387.3 million
- Acquired roughly 21,584 top-tier ASIC miners from Bitmain yr up to now with a further 5,916 ASIC miners presently in transit
- Current mining fleet consists of twenty-two,412 energetic miners producing roughly 2.3 EH/s
Bitcoin Manufacturing Replace
As of September 1, 2021, Marathon’s mining fleet has produced roughly 1,757.9 newly minted bitcoins throughout 2021. By month, the Firm’s bitcoin manufacturing was as follows:
In consequence, Marathon presently holds roughly 6,695 BTC, together with the 4,812.66 BTC the Firm bought in January 2021 for a median value of $31,168 per BTC. On September 1, 2021, the truthful market worth of 1 bitcoin was roughly $49,800, implying that the approximate truthful market worth of Marathon’s present bitcoin holdings is roughly $333.4 million.
Miner Installations and Hash Charge Progress
As of September 1, 2021, Bitmain has delivered roughly 21,584 top-tier ASIC miners to the Firm’s mining facility in Hardin, MT. Whereas shipments are persevering with to progress as scheduled, the Firm is monitoring the potential of present world logistics points to influence shipments, deliveries, and deployments. Presently, the Firm nonetheless anticipates all beforehand bought miners to be shipped by the tip of June 2022. Based mostly on present estimates, the Firm’s mining fleet is predicted to consist of roughly 133,000 miners, producing roughly 13.3 EH/s, as soon as all miners are put in in roughly mid-2022.
“Throughout August, the whole community’s hash fee elevated greater than 15%, and through that very same time, we elevated our bitcoin manufacturing by 6% month-over-month to 469.6 BTC,” mentioned Fred Thiel, Marathon’s CEO. “Regardless of a minor technical challenge on the Hardin energy plant, which induced our miners to be offline for about two days in the course of the month and which has since been remediated, we nonetheless averaged 15.1 BTC per day and elevated our complete bitcoin holdings to roughly 6,695 BTC. We additionally made substantial progress with our internet hosting associate, Compute North, getting ready new places to obtain the massive variety of beforehand bought miners we count on to ship from Bitmain over the approaching months. We proceed to count on shipments as scheduled, however we perceive that there’s the potential for world logistics points to influence these schedules. Based mostly on essentially the most up-to-date data, we consider we stay properly positioned to scale our hash fee from its present stage of two.3 EH/s to 13.3 EH/s by mid subsequent yr.”
Investing in our securities entails a excessive diploma of danger. Earlier than investing choice, it is best to fastidiously take into account the dangers, uncertainties and forward-looking statements described below “Danger Elements” in Merchandise 1A of our most up-to-date Annual Report on Type 10-Ok for the fiscal yr ended December 31, 2020. If any of those dangers have been to happen, our enterprise, monetary situation or outcomes of operations would seemingly endure. In that occasion, the worth of our securities might decline, and you could possibly lose half or all your funding. The dangers and uncertainties we describe aren’t the one ones dealing with us. Further dangers not presently identified to us or that we presently deem immaterial may additionally impair our enterprise operations. As well as, our previous monetary efficiency will not be a dependable indicator of future efficiency, and historic developments shouldn’t be used to anticipate outcomes sooner or later. Future adjustments within the network-wide mining problem fee or Bitcoin hash fee may additionally materially have an effect on the long run efficiency of Marathon’s manufacturing of Bitcoin. Moreover, all discussions of monetary metrics assume mining problem charges as of September 2021. The whole community’s hash fee knowledge is calculated from a third-party supply, which is out there right here: https://www.blockchain.com/charts/hash-rate. Knowledge from third-party sources has not been independently verified. See “Protected Harbor” beneath.
Statements made on this press launch embrace forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934. Ahead-looking statements could be recognized by means of phrases comparable to “might,” “will,” “plan,” “ought to,” “count on,” “anticipate,” “estimate,” “proceed,” or comparable terminology. Such forward-looking statements are inherently topic to sure dangers, developments and uncertainties, lots of which the Firm can not predict with accuracy and a few of which the Firm may not even anticipate and contain components that will trigger precise outcomes to vary materially from these projected or prompt. Readers are cautioned to not place undue reliance on these forward-looking statements and are suggested to contemplate the components listed above along with the extra components below the heading “Danger Elements” within the Firm’s Annual Stories on Type 10-Ok, as could also be supplemented or amended by the Firm’s Quarterly Stories on Type 10-Q. The Firm assumes no obligation to replace or complement forward-looking statements that grow to be unfaithful due to subsequent occasions, new data or in any other case.
About Marathon Digital Holdings
Marathon is a digital asset expertise firm that mines cryptocurrencies with a give attention to the blockchain ecosystem and the era of digital property.
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